Market liberalism is used in two distinct ways. In the United States, the term is used as a synonym to classical liberalism.[1] In this sense, market liberalism depicts a political ideology, combining a market economy with personal liberty and human rights in contrast to social liberalism, which combines personal liberty and human rights along with a mixed economy and welfare state.
In Europe and elsewhere, the term market liberalism is often used as a synonym to economic liberalism,[2] depicting a policy supporting the economic aspects of liberalism, without necessarily including the political aspects of liberalism. In some political spheres, market liberalism refers to an economically liberal society that also provides a minimal to moderate-sized welfare state for its citizens.[3]
See also
editReferences
edit- ^ "The Achievements of Nineteenth-Century Classical Liberalism". Cato Institute.
Although the term 'liberalism' retains its original meaning in most of the world, it has unfortunately come to have a very different meaning in late twentieth-century America. Hence terms such as "market liberalism," "classical liberalism," or "libertarianism" are often used in its place in America.
- ^ Inglis, Ken (2006). Whose ABC? The Australian Broadcasting Corporation, 1983–2006. Melbourne, Australia: Black Inc. p. 100.
- ^ "What Is a Liberal Market Economy?".
Further reading
edit- Conway, David (2008). "Liberalism, Classical". In Hamowy, Ronald (ed.). The Encyclopedia of Libertarianism. Thousand Oaks, CA: Sage; Cato Institute. pp. 295–298. doi:10.4135/9781412965811.n179. ISBN 978-1412965804. LCCN 2008009151. OCLC 750831024.
